Employment Offer Letter to Teresa A. Taylor for Executive Vice President, Business Markets Group Position at Qwest
Qwest has offered Teresa A. Taylor the position of Executive Vice President, Business Markets Group, effective August 19, 2008. The letter outlines her new base salary of $500,000 per year, eligibility for an annual bonus equal to her base pay, and an annual executive benefit of $35,000. The offer is contingent on passing a background check. All other employment terms remain as previously agreed. This letter formalizes the promotion and compensation details for Ms. Taylor's new executive role.
Exhibit 10.24
| August 19, 2008 |  |
Teresa A. Taylor
1801 California Street
Denver, CO 80202
Dear Teresa:
Giving people the opportunity to develop professionally through new challenges is an investment in our greatest resource – employees. Fostering and developing the talent of employees is critical to the success of the business and to our future. With that, I am pleased to offer you the position of Executive Vice President, Business Markets Group, reporting directly to me, effective August 19, 2008. I am confident of the value you will continue to bring to the business. The key compensation opportunities of your new role are highlighted below.
| 1. | Base Salary: Your base salary increases to $500,000 per annum. |
| 2. | Annual Bonus Plan: You will be eligible to participate in the annual bonus plan. Your target bonus will remain at 100% of your annual base pay. |
| 3. | Executive Perquisite: You will continue receive an executive perquisite benefit of $35,000 paid to you annually in January. |
| 4. | Background Check: As a condition of this internal transfer, you must undergo and pass a background check at this time. Please complete and return the enclosed Request for Information and Consent and Disclosure forms within 5 business days of your receipt of this letter to Jana Venus at 1801 California Street, 23rd Floor, Denver, CO 80202. You will not be contacted as to the results of the background check unless there is a problem. |
| 5. | Other: Your executive benefits and the other terms and conditions of your employment shall continue to be governed by your agreement with the company dated July 28, 2003 and amended on December 15, 2005. |
Congratulations on this wonderful opportunity, Teresa. I look forward to your continued strong performance and the contribution you will make to the success of Qwest.
Sincerely,
Thomas E. Richards
Executive Vice President and Chief Operating Officer
